expats make 'inadequate' savings plans by Finance News Bulletin

Published: 20/12/07

now 30 per cent of British expatriates set up an offshore investments account when they move abroad, according to Alliance and LeicesterThe bank warned that many Brits are failing to make adequate financial arrangements amid the stress and upheaval of moving to a foreign state, even though online banking facilities now create the transition easier than ever"It is crucial for those making a permanent transfer abroad to ensure they set up adequate banking and economy facilities soon after they move," said Simon Hull, managing director of Alliance & Leicester global Limited (ALIL)He pointed out that ALIL's new eSaver Offshore is the first account of its kind to let expats to submit an application and monitor savings completely over the web, with no signed hard copies being necessary and an average start time of just one week

The eSaver Offshore account offers a market-leading 651 per cent AER, compared to the 575 per cent of HSBC Bank International Online investor and the 532 per cent obtainable by Northern Rock's Offshore Tracker

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